AGF REPORTS JANUARY 2011 MUTUAL FUND SALES

TORONTO, Feb. 2 /CNW/ - AGF Management Limited reported total fee-earning assets under management (AUM) of $44.1 billion as at January 31, 2011, an increase of 1.6% from January 31, 2010.

On February 1, 2011, AGF announced the completion of the acquisition of Acuity which now brings AGF's total AUM to $51.7 billion. AGF will begin to include Acuity's AUM results in February's release.

($ millions) Assets at
January
31/11
Gross Sales
January
2011
Redemptions
January 2011
Net Sales
January
2011
Net Sales
January
2010
Long-term Funds $22,522 $248.7 $367.9 $ (119.2) $ (113.8)
Money Market 334 8.5 22.9 (14.4) (6.9)
Total Mutual Funds $22,856 $257.2 $390.8 $ (133.6) $ (120.7)
Institutional and Strategic Accounts +
High-net-worth
21,276
Total Assets $44,132

Net redemptions of long-term mutual funds for the month ended January 31, 2011 were $119.2 million compared to long-term mutual fund net redemptions of $113.8 million in January 2010.

Average daily mutual fund AUM for January 2011 remained consistent at $22.8 billion compared to January 2010. AGF institutional, strategic and high-net-worth AUM decreased to $21.3 billion from $21.5 billion at January 31, 2010.

About AGF Management Limited

AGF Management Limited is one of Canada's premier independent investment solutions firms with offices across Canada and subsidiaries around the world. AGF's products include a diversified family of award-winning mutual funds, AGF Elements portfolios, the Harmony asset management program, Acuity's Alpha wrap program as well as pooled funds, closed end funds, separately managed accounts and Socially Responsible Investing (SRI) products managed by Acuity. AGF also manages assets on behalf of institutional investors including pension plans, foundations and endowments as well as for private clients. In addition, AGF Trust is a complementary business that offers GICs, loans and mortgages through the financial advisor and mortgage broker channels. With approximately $52 billion in total assets under management, AGF serves more than one million investors. AGF trades on the Toronto Stock Exchange under the symbol AGF.B.

SOURCE AGF

For further information:

AGF Management Limited shareholders and analysts, please contact:

Robert J. Bogart, CPA
Executive Vice-President and Chief Financial Officer
416-865-4264, bob.bogart@agf.com

Media, please contact: 
Lucy Becker
Vice-President, Public Relations and Public Affairs
416-865-4284, lucy.becker@agf.com


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